Dogecoin [DOGE]’s 10.25% weekly rally has been impressive, outperforming several high-cap altcoins. With this rally now stalling at $0.193, FOMO could kick in. However, there is no buying frenzy yet, and DOGE is still struggling to break above $0.20. In this market, a $0.74 target seems like a distant dream.

Dogecoin [Doge]每週的10.25％集會令人印象深刻，表現優於幾個高股山羊。由於現在的集會停滯為0.193美元，FOMO可能會開始。但是，還沒有購買Frenzy，而且Doge仍在努力折扣超過0.20美元。在這個市場上，一個0.74美元的目標似乎是一個遙遠的夢想。

As overhead supply zones continue to build up, the road ahead for DOGE looks difficult, especially if it aims to break through and reach that level.

隨著間接費用供應區的不斷建立，前面的Doge的道路看起來很困難，尤其是當它旨在突破並達到該水平時。

Dogecoin’s valuation is running faster than its activity

Dogecoin的估值運行速度快於其活動

Dogecoin has secured its place in the top 10 crypto assets with a $26 billion market cap. However, it’s no secret that the coin’s valuation has been running faster than its activity.

Dogecoin擁有260億美元的市值，在前10名加密貨幣資產中佔據了一席之地。但是，硬幣的估值的運行速度比其活動更快，這已不是什麼秘密。

Despite a recent rally of 10.25%, new and active addresses remain low, and the coin is yet to break above $0.20.

儘管最近有10.25％的集會，但新的和主動地址仍然很低，而且硬幣尚未中斷0.20美元。

Moreover, Dogecoin’s Network Value to Transaction (NVT) ratio has reached a three-month high, indicating that its market cap is outpacing on-chain transactions.

此外，Dogecoin的網絡價值與交易（NVT）比率達到了三個月的高度，這表明其市值超過了鏈交易。

Source: Glassnode

來源：玻璃節

This lackluster network activity is evident in the low new and active address count, which is lagging behind pre-election levels. During November’s breakout, new addresses surged past 100k as DOGE broke through $0.40. In contrast, only 12,629 new addresses were created today.

這種平淡的網絡活動在低新的和主動的地址數量中很明顯，該地址數量落後於選舉前的水平。在11月的突破中，新的地址飆升了100,000萬美元，Doge闖入了0.40美元。相比之下，今天僅創建了12,629個新地址。

This stat highlights that DOGE’s recent rally appears to be fueled more by speculative interest than by fundamental factors.

這一統計數據強調，Doge最近的集會似乎比投機性興趣更大，而不是基本因素。

Dogecoin is known for its “high-risk, high-reward” nature, which usually attracts FOMO. However, despite the impressive rally, FOMO has yet to kick in. This is because, despite attempts to push higher, the coin is encountering resistance and bouncing back.

Dogecoin以其“高風險，高回報”的性質而聞名，通常會吸引FOMO。但是，儘管集會令人印象深刻，但FOMO尚未開始。這是因為儘管試圖推高，但硬幣還是遇到了抵抗和反彈。

Unless DOGE manages to break above $0.20 convincingly, with increased volume to follow through, it is likely to remain capped structurally. As a result, reaching the $0.74 target seems like an optimistic goal at this juncture.

除非Doge設法令人信服地超過$ 0.20，但要增加的數量增加，否則可能會在結構上保持封蓋。結果，達到0.74美元的目標似乎是這個關頭的樂觀目標。

No sign of a supply shock yet

還沒有供應衝擊的跡象

At the time of writing, Dogecoin was down 0.8%, displaying some overvaluation according to TipRanks. However, on a brighter note, Options volume just went up by 9.11%.

在撰寫本文時，Dogecoin下跌了0.8％，根據Tipranks顯示一些高估。但是，更明顯的是，期權量剛剛上升了9.11％。

Furthermore, derivatives Open Interest reached a monthly high of $1.87 billion, as traders flocked back to the derivatives market.

此外，隨著貿易商湧向衍生品市場，衍生品開放式利息每月達到18.7億美元。

Source: Coinglass

資料來源：小店

This massive inflow of capital into derivatives is setting the stage for a classic scenario of blind greed. In the last 24 hours alone, $3.11 million worth of long positions got liquidated.

資本流入衍生品的大量流入為盲目貪婪的經典情景奠定了基礎。僅在過去的24小時內，價值311萬美元的長位置就被清算了。

Adding to the selling pressure, whale activity has also decreased significantly. Nearly 4,000 addresses holding over 10k DOGE pulled out their funds, showcasing decreasing confidence among larger holders.

鯨魚活動增加了銷售壓力，也大大減少了。持有超過10k Doge的近4,000個地址撤出了他們的資金，顯示了較大的持有人的信心下降。

Therefore, that $0.74 target seems like a distant pipe dream. At least until DOGE manages to rectify its weak spots and sparks some genuine FOMO.

因此，$ 0.74的目標似乎是一個遙遠的時髦夢。至少直到Doge設法糾正其弱點並引發了一些真正的FOMO。